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Thread: The results are in on social security

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    Re: The results are in on social security

    Quote Originally Posted by Catawba View Post
    That is basically correct, however there is separate accounting however. Because the trust funds can be used to offset current expenses that we don't feel like paying as we go through taxes is the reason that Gore proposed locking the funds from general fund usage. The trust fund accounting showed a 2.6 trillion surplus when Bush entered office and later in his administration he said it was all gone.
    There is no trust fund. The money comes in from SS gets spent as soon as it comes in. There is no money for any sort of surplus. It doesn't matter what bush said on it or what gore was thinking on it. There is nothing to talk about.

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    Re: The results are in on social security

    Quote Originally Posted by Catawba View Post
    Bush when he entered office:

    "my budget protects all $2.6 trillion of the Social Security surplus for Social Security, and for Social Security alone."

    Later in his administration: "The money-payroll taxes going into Social Security are spent. They're spent on benefits and they're spent on government programs. There is no trust."
    <looks carefully>

    Interesting. I still don't the the quote 'I looted SS to pay for the Iraq war' in there anywhere.

    It looks like you're mistaken... or lying.

    Which is it?

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    Re: The results are in on social security

    originally he went with the "oh well it's really there"

    later on, he decided the system needed to be reformed, and tried to do so. The Republican Party turned craven and abandoned him in it. We would be sitting a bit better today if they had not; and certainly would have more breathing room as we face the Medicare crises.

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    Re: The results are in on social security

    Anyone here care to answer me this question. Who here thinks that it’s a good idea for the United States Government to default on special issue Treasury bonds?
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: The results are in on social security

    I think we need to stop lying to ourselves by claiming that they are something real. Just admit that Social Security overruns come out of the General Budget, and let's get to work on reforming the system to keep SS from eating everything else.

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    Re: The results are in on social security

    Quote Originally Posted by cpwill View Post
    I think we need to stop lying to ourselves by claiming that they are something real. Just admit that Social Security overruns come out of the General Budget, and let's get to work on reforming the system to keep SS from eating everything else.
    Sure thing, raise the cap and start paying the special issue Treasury bonds AKA ious with money generated.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: The results are in on social security

    Social Security and Medicare Need Reform Now, Say Trustees

    Chuck Blahous and Robert Reischauer, the two independent trustees of the Social Security and Medicare Trust Fund, had a sober warning Friday: act quickly or the nation's two most popular entitlements are in serious danger.

    “The earlier we act to deal with these problems, the better off we're gonna be, certainly better off the vulnerable populations are gonna be,” said Blahous, referring to low-income seniors and those already receiving benefits.

    The Medicare hospital trust fund will be unable to pay promised benefits in 2024, five years earlier than previously thought.
    “In 2036, if you wanted all benefit constraints to apply only prospectively, you wouldn't have a system in balance even if 100 percent of those benefits for new retirees were cut off,” Blahous said.
    Senate Majority Leader Harry Reid went much further, saying there's no crisis in Social Security and that we could wait until 2030 or later to fix it.

    The trustees see it differently.

    “In 2036, if we were to delay a resolution of the problem until that date, we would have basically -- and I would go so far to say -- almost insoluble problem,” Blahous said.
    Well, what the **** would the trustees know about it anyway, right liberals?

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    Re: The results are in on social security

    Quote Originally Posted by Catawba View Post
    I mean tax cuts that add to the National debt and rob SS trust funds to pay for optional wars instead of increasing taxes to pay for them.
    Do you believe all wealth belongs to the government?

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    Re: The results are in on social security

    Social Security is useless. It would be much better to allow the percentage of a person's check that goes to social security, minus the amount that is used to help pay for disabled people, to be tax free.

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    Re: The results are in on social security

    Quote Originally Posted by Catawba View Post
    That is basically correct, however there is separate accounting however. Because the trust funds can be used to offset current expenses that we don't feel like paying as we go through taxes is the reason that Gore proposed locking the funds from general fund usage. The trust fund accounting showed a 2.6 trillion surplus when Bush entered office and later in his administration he said it was all gone.
    It is an IOU. It is worthless. It has always been worthless. It was a fraud. I wish we could go after the wealth of every politician that has ever voted for these entitlement that are so far out of control. I would start by bankrupting them and their heirs.

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